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Tax

Of or relating to the fees charged by a government on a product, income, or activity; and also to the system by which they are successfully levied.

Industry: Accounting

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Tax

covenants

Accounting; Tax

Promises included in an agreement to perform or not to perform certain acts For example, a loan may contain a covenant that the borrower's debt-to-equity ratio cannot exceed 2 to 1

credit enhancements

Accounting; Tax

Using third-party guarantees such as a cosigner, the pledging of assets, an insurance company bond, or a letter of credit to provide additional security for a loan

Under the Pension Protection Act of 2006 (PPA), a multiemployer plan is considered to be in critical status if (1) it is less than 65% funded and is projected to have a funding deficiency within five ...

cross-purchase plan

Accounting; Tax

A plan by which each stockholder or partner in a closely held business agrees to purchase the interest of a departing stockholder or partner Usually funded by life insurance on the lives of the ...

current yield

Accounting; Tax

The yield of a bond or similar instrument, taking into account only the current interest and the price paid Computed by dividing the annual interest by the purchase price